Firms Can Use Social Networking Sites to Improve Their Efficiency

question 10

True/False

Firms can use social networking sites to improve their efficiency in customer service.

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Definitions:

Existing Competitors

Companies that are currently operating in the same market and competing for the same customers.

Industry

A classification that refers to groups of companies that are related based on their primary business activities.

Bargaining Power

The relative ability of parties in a negotiation to exert influence over each other, often determining the terms and conditions of agreements.

Availability

This term generally refers to the readiness or accessibility of an asset, resource, or product for use or sale.